Which is better? One site with 5 pages or 5 sites with one page each?

[carlos123]

I am debating the merits of one or the other and would like to get some input on this if anyone has anything to share on this with me.

In my thinking there are pros and cons to both approaches.

One site with 5 pages:
PRO:
Easy to work with.
Low cost for domain registration.
Can be built into an authority site.
CON
Less link juice than having external domains pointing in.
Less likely to rank well for keyword phrases not directly in domain name.

5 sites with one page each:
PRO
Much easier to rank well for a given long tail keyword in domain.
CON
Higher cost per domain registration.
Not a very stable or long term income producer as a result of being easier to knock out of the rankings.
Google may not like it with respect to it giving real value.
Harder to get a good PR for.
Harder to get natural incoming links for.

Anybody have any other thoughts on this?

Carlos